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Another poster recently suggested a strategy of buying up the float of a smaller stock in an effort to create a short squeeze.
I ended up doing a pretty thorough search, and the smallest "float" stock that I could find on the recent short report list that wasn't a pink sheet stock was ABDE. Yahoo says the float is 841,000, and with a stock price of .022, the entire float is "worth" $18,500. I've since seen a totally different number for the float, which is on the company's website, of 4.8 million for the float. This would make the float "worth" just over $100,000, which is still the smallest one that I could find.
I bought 150,000 shares like 2 days ago and my trades alone sent the price from .020 to .024. It dropped back to .022 since I bought, but it just shows how quickly this can move with just a little buying pressure.
Right now the asks are .023, .028, and 4 at .03.
It looks like it recently hit a low point of .013, so there is obviously some risk, but I think the upside is pretty high with this. Plus its 52 week high is over $1.
Just wanted to throw it out there in case anyone was interested.
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Not sure how I missed the other thread on it. I thought I did a search on the board. Must have spelled it wrong since there are already 5 threads about this one. Whoops, sorry about that.
Oh well, like I said, if a few people by it can fly quickly. Seems like that's the general concensus from the other threads too.
quote:Originally posted by JimSC: Great idea. Many of us are already in. Will add more soon. Please keep it in the first page.
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I got busy at work and stopped paying attention. Glad to see some solid buying there into the close and an uptick from 23x25 to 25x27 Hopefully a sign of thing to come for tomorrow.
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I put about $3 grand into it getting 150K shares at like .022 average. I did enough research to feel confident that this is one of, if not the lowest float stocks excluding pink sheets. Figured it was worth the gamble.
quote:Originally posted by juice: heck guys i have 75k sheesh
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Jim, DYHP is a low float stock in number of shares, but it trades at .46 cents. So the float is almost $2.5million! That's slightly different than under $150,000
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Hi, PCola. DYHP has annual rev of 52 M$. P/E = 1.1. With a float of 5.5 M shares, DYHP will run when next 10Q is out in 2 weeks. Watch it.
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Oh I'm not saying anything about the prospects of the stock. My point was only that the fact that ABDE has a low float is significan because you can buy like 5% of the float for under $10,000. 5% of the float of DYHP is over $125,000.
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